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Simulating Securities Markets Operations: Some Examples, Observations, and Comments

Published online by Cambridge University Press:  19 October 2009

Richard R. West
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Extract

This paper discusses the use of simulation as a means of studying the operations of securities markets. To place simulation's role in the proper context, Section I begins with a review of public policy, research, and teaching considerations that have combined in recent years to create a growing need to improve our understanding of the operations of these markets. Following this is a brief discussion of the limitations of traditional price theory models to meet this need. Section II demonstrates the significant, yet largely untapped, potential of simulation in this regard.

Type
Research Article
Information
Journal of Financial and Quantitative Analysis , Volume 5 , Issue 1 , March 1970 , pp. 115 - 137
Copyright
Copyright © School of Business Administration, University of Washington 1970

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References

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